Exercise 15-3 A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Manufacturing Direct Materials Labor Date Overhead Beq. bal 5,7007,260 5,082 Jan. 1 8 12 25 27 7,260 9,200 7,820 2,200 4,000 15,16020,460 3,400 16,302 Cost of completed job: $15,160 20,460 16,302 $51,922 $25.96 Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($51,922 2,000) (a) On the basis of the foregoing data, answer the following questions (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? Balance in Work in Process Inventory on January 1